Subscribe Feed (RSS)Finally, new high
October 7th, 2006 by eyal | Filed under Day Trading. |
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Finally reached a new equity high yesterday. Went long CHTT and short MU, both pretty classic dummy trades. It’s taken 2.5 months since I left New Zealand to get to this point, it includes about a month of not trading and a month and half of trading terribly, without focus, without full commitment and frankly speaking without balls. I was thinking about this for a while last week, how I got from pretty regular winning weeks/months to struggling and hovering around the same place for 6-7 weeks. I also broke my own record of -5R drawdown to -8R which wasn’t very nice. So thinking through all this, I went back in my mind to that period of time I was trading in NZ, tried to think through the mindset and the actions I took and how it differed from what I was doing now. I finally reached a conviction to re-create that mindset and basically emulate my own actions and style back then. Of course there are also imporant outside factors like market conditions, work commitments and maybe pure luck as well. It also doesn’t mean that problems aren’t going to plague me going forward. Trading still has to take a second place in my priorities these days but I think something clicked last week, so hopefully I’ll be back in form on those days that I trade. That is until I’ll be going on vacation for 2 weeks the week following next :) But that’s a different story.
[...] 1. Had I paid closer attention to my log and continued to fill it diligently as I have been in the first half of the year I’d probably be able to see there was a problem with my trading earlier than I did. The failure here is: a. trading while not having the time needed to devote to it and not being completely focused due to change of job and relocation and b. being plain lazy. Action plan: all trades must be logged within 48 hours. [...]